Teekay (NYSE:TK) CEO Kenneth Hvid Sells 6,822 Shares of Stock

Teekay Corporation Ltd. (NYSE:TK) CEO Kenneth Hvid sold 6,822 shares of Teekay stock in a transaction on Friday, June 12th. The stock was sold at an average price of $12.04, for a total value of $82,136.88. Following the transaction, the chief executive officer directly owned 105,500 shares of the company’s stock, valued at $1,270,220. This trade represents a 6.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kenneth Hvid also recently made the following trade(s):

• On Thursday, June 11th, Kenneth Hvid sold 315,335 shares of Teekay stock. The stock was sold at an average price of $12.36, for a total value of $3,897,540.60.

Teekay Stock Up 3.9%

NYSE:TK opened at $12.34 on Friday. The company has a market capitalization of $1.07 billion, a PE ratio of 8.17 and a beta of 0.19. Teekay Corporation Ltd. has a 52-week low of $7.11 and a 52-week high of $14.38. The stock has a fifty day simple moving average of $12.72 and a 200-day simple moving average of $11.28.

Teekay (NYSE:TK) last released its quarterly earnings results on Wednesday, May 13th. The shipping company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.44. The business had revenue of $285.82 million during the quarter, compared to the consensus estimate of $285.82 million. Teekay had a return on equity of 6.36% and a net margin of 13.03%.

Teekay Announces Dividend

The business also recently disclosed a special dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were given a dividend of $1.00 per share. The ex-dividend date was Tuesday, May 26th.

Analyst Ratings Changes

A number of research firms recently commented on TK. Wall Street Zen cut Teekay from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings cut Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Trading of Teekay

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TK. Transamerica Financial Advisors LLC grew its holdings in Teekay by 250.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after buying an additional 3,130 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Teekay in the 4th quarter valued at about $43,000. Cubist Systematic Strategies LLC purchased a new stake in Teekay in the 1st quarter valued at about $48,000. CWM LLC grew its holdings in Teekay by 34.2% in the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after buying an additional 1,449 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Teekay by 194.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after buying an additional 5,022 shares during the period. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Company Profile

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.